United Kingdom: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in the UK

For the third year in a row, the UK nitric and sulphonitric acids market recorded growth in sales value, which increased by 35% to $X in 2021. Over the period under review, the total consumption indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +35.9% against 2017 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Nitric Acid And Sulphonitric Acids in the UK

In value terms, nitric and sulphonitric acids production surged to $X in 2021 estimated in export price. Over the period under review, the total production indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +113.7% against 2015 indices. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of Nitric Acid And Sulphonitric Acids

Exports from the UK

After two years of decline, overseas shipments of nitric acid and sulphonitric acids increased by 3.2% to X tons in 2021. The total export volume increased at an average annual rate of +2.3% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2016 with an increase of 17%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, nitric and sulphonitric acids exports skyrocketed to $X in 2021. In general, exports recorded a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Ireland (X tons), the Netherlands (X tons) and Italy (X tons) were the main destinations of nitric and sulphonitric acids exports from the UK.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +73.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for nitric and sulphonitric acids exported from the UK were Ireland ($X), the Netherlands ($X) and Italy ($X), together accounting for 88% of total exports.

The Netherlands, with a CAGR of +81.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average nitric and sulphonitric acids export price amounted to $X per ton, growing by 103% against the previous year. Over the period under review, the export price continues to indicate a strong increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ireland ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to North Macedonia (+16.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nitric Acid And Sulphonitric Acids

Imports into the UK

Nitric and sulphonitric acids imports into the UK reduced rapidly to X tons in 2021, which is down by -23.2% compared with the previous year's figure. In general, imports recorded a noticeable descent. The most prominent rate of growth was recorded in 2013 with an increase of 102%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, nitric and sulphonitric acids imports shrank markedly to $X in 2021. Overall, imports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 99% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Portugal (X tons), Belgium (X tons) and France (X tons) were the main suppliers of nitric and sulphonitric acids imports to the UK, together accounting for 94% of total imports. Germany, the United States and Poland lagged somewhat behind, together comprising a further 18%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +17.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Portugal ($X), France ($X) and Belgium ($X) constituted the largest nitric and sulphonitric acids suppliers to the UK, together comprising 82% of total imports.

France, with a CAGR of +11.6%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average nitric and sulphonitric acids import price stood at $X per ton in 2021, shrinking by -9.7% against the previous year. Over the period under review, the import price continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2020 when the average import price increased by 73% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+48.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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